Nedbank closes US$450 term loan

News | 19 May 2017


Nedbank has closed a three-year US$450m senior unsecured term loan facility with a syndicate of banks.

The term loan will replace the bank’s US$210m facility signed in 2014, and was nearing its maturity date – funds from the new facility will also be used for general corporate purposes.

The facility was oversubscribed, raising US$100m more than Nedbank had sought when the facility was launched at US$350m on 16 March 2017.

Nedbank’s term loan pays a margin of 130 bps per annum at ratings of Baa3/BBB- equivalent and 155bp per annum at Ba1/BB+ equivalent, above US dollar LIBOR.

Bank of America Merrill Lynch and Wells Fargo Bank acted as joint coordinators, bookrunners, and mandated lead arrangers (see below for the full list of participating banks).


Mandated lead arranger

Bank of China, London Branch

Bank of China, Singapore Branch

Bank of Taiwan, South Africa Branch

Commerzbank Aktiengesellschaft, Filiale Luxembourg


Industrial and Commercial Bank of China, London Branch

JP Morgan

Standard Chartered Bank

State Bank of India, Johannesburg Branch

The Bank of Tokyo-Mitsubishi UFJ




Doha Bank

Hua Nan Commercial Bank, Offshore Banking Branch

Taiwan Business Bank, Offshore Banking Branch  

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